Bad Credit Tenant Loans: Helping You in Times of Need
A lower credit or bad credit apparently reduces your chances and makes your situation grimmer when you wish unsecured form of loan with such situation. Since, such situation may be attached with any one; you too are now being helped with liberal market policy. In such situation bad credit tenant loans can be obtained easily that help you get financial help without putting any collateral.
How to get a bad credit loan
Bad credit tenant loans are available even when you have CCJs, arrears, IVAs, defaults, and even bankruptcy and this is how you get a bad credit loan. These loans are decided for you taking credit report from the authorised credit bureaus that prepare score for you after scanning your previous repayment track.
Such tenants can easily avail these loans if they fulfil some prerequisites which are:
- You must be a U.K. citizen.
- You must have a paid job.
- You must be living at your present address from 12 months.
- You have your own U.K. bank account.
- You have a credit/store card and make regular payments.
- You must have a savings account to which you make regular payment.
As these loans are provided collateral free, it paves the way for all kind of tenants as well as well homeowners too who do not wish to put their asset as collateral. You can find the right sum with bad credit tenant loans depending upon you financial condition and repaying capability. The sum that can be usually found here varies from £100 to £200o with flexible repayment duration of 10 years.
You can avail these loans even with online lenders that are easily accessible round the clock. The online option help you compare several lenders at a time and even apply for the loan at the same time.
Bad credit doesn’t mean you can’t get finance
Bad credit is an unwilling tag which sticks with you when you have a poor credit score in loan market. You are identified as risk factor and lenders start avoiding you. Worst on this is that when you have no property such as home to keep as collateral. But with the changing time you have option of bad credit tenant loans which are specially framed for tenants who either don’t have any home or don’t want to risk it.